Menlo Therapeutics Inc (NASDAQ:MNLO) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 147,100 shares, an increase of 39.8% from the July 31st total of 105,200 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 54,600 shares, the short-interest ratio is currently 2.7 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Orbimed Advisors LLC grew its holdings in Menlo Therapeutics by 6.3% in the second quarter. Orbimed Advisors LLC now owns 673,700 shares of the company’s stock worth $4,035,000 after purchasing an additional 39,780 shares during the period. Vanguard Group Inc. grew its holdings in Menlo Therapeutics by 4.3% in the second quarter. Vanguard Group Inc. now owns 559,499 shares of the company’s stock worth $3,352,000 after purchasing an additional 22,996 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Menlo Therapeutics by 8.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 114,109 shares of the company’s stock worth $684,000 after purchasing an additional 9,216 shares during the period. BlackRock Inc. grew its holdings in Menlo Therapeutics by 44.7% in the second quarter. BlackRock Inc. now owns 912,720 shares of the company’s stock worth $5,466,000 after purchasing an additional 281,974 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Menlo Therapeutics by 73.7% in the second quarter. Parametric Portfolio Associates LLC now owns 66,972 shares of the company’s stock worth $401,000 after purchasing an additional 28,418 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.

MNLO traded up $0.08 during midday trading on Friday, reaching $5.32. The company’s stock had a trading volume of 17,257 shares, compared to its average volume of 68,001. The firm has a market capitalization of $124.80 million, a price-to-earnings ratio of -2.24 and a beta of 2.16. Menlo Therapeutics has a 1 year low of $2.69 and a 1 year high of $12.00. The stock’s 50-day moving average is $4.16 and its 200-day moving average is $6.15.

Menlo Therapeutics (NASDAQ:MNLO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.15. Sell-side analysts anticipate that Menlo Therapeutics will post -3.19 earnings per share for the current year.

MNLO has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Menlo Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. ValuEngine raised shares of Menlo Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Menlo Therapeutics Company Profile

Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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